01 -
Combine the chocolate chips, peanut butter, and butter in a medium microwave-safe bowl. Microwave on high for 1 minute, remove, and stir. Return to the microwave for an additional 30 seconds or until the mixture is smooth when stirred.
02 -
Add the vanilla extract to the melted mixture and stir thoroughly to combine.
03 -
Place the Rice Chex cereal in a large mixing bowl. Pour the chocolate-peanut butter mixture over the cereal and gently fold until all pieces are evenly coated without crushing them.
04 -
Transfer the coated cereal to a large sealable plastic bag. Add powdered sugar, seal the bag, and shake vigorously until each piece is well coated.
05 -
Spread the coated cereal onto parchment or waxed paper and allow to cool until the coating is set.
06 -
Once cooled, store the mixture in an airtight container for up to two weeks. Refrigerate if your kitchen is warm.